Equities

All Major US Indices At New Record Highs, With Energy Sector The Worst Performer (As WTI Crude Spot Fell Almost 5% )

A little over two thirds of the S&P 500 stocks rose today, led by small caps and growth stocks, while 1-month ATM implied volatility fell (along with the volatility skew)

Published ET

Market Caps (in US$ bn) In The Dow Jones Global Titans 50 Index (Which Does Not Include Chinese Equities) | Sources: ϕpost, Refinitiv data

Market Caps (in US$ bn) In The Dow Jones Global Titans 50 Index (Which Does Not Include Chinese Equities) | Sources: ϕpost, Refinitiv data


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QUICK SUMMARY

  • Daily performance of US indices: S&P 500 up 0.65%; Nasdaq Composite up 1.04%; Wilshire 5000 up 0.85%
  • 67.1% of S&P 500 stocks were up today, with 73.7% of stocks above their 200-day moving average (DMA) and 70.3% above their 50-DMA
  • Top performing sectors in the S&P 500: consumer discretionary up 1.84% and materials up 1.10%
  • Bottom performing sectors in the S&P 500: energy down -0.83% and utilities down -0.32%
  • The number of shares in the S&P 500 traded today was 566m for a total turnover of US$ 74 bn
  • The S&P 500 Value Index was up 0.5%, while the S&P 500 Growth Index was up 0.8%; the S&P small caps index was up 2.1% and mid caps were up 1.1%
  • The volume on CME's INX (S&P 500 Index) was 2.2m (3-month z-score: 0.6); the 3-month average volume is 2.0m and the 12-month range is 0.8 - 5.1m
  • Daily performance of international indices: Europe Stoxx 600 up 0.35%; UK FTSE 100 down -0.36%; tonight in Asia, the Hang Seng SH-SZ-HK 300 Index up 0.84%, Japan's TOPIX 500 up 0.79%

VOLATILITY

  • 1-month at-the-money implied volatility on the S&P 500 at 11.7%, down from 12.6%
  • 1-month at-the-money implied volatility on the Europe Stoxx 600 at 11.3%, down from 11.8%
S&P 1500 Performance By Sector | Sources: ϕpost, Refinitiv dataS&P 500, STOXX 600 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

NOTABLE US EARNINGS RELEASES

  • CVS Health Corp (CVS | Healthcare): beat EPS median estimate (1.97 act. vs. 1.75 est.) and beat revenue median estimate (73,794m act. vs. 70,423m est.), up 5.69% today, closed at 96.34 and at 91.15 (-5.39%) after hours
  • Equinix Inc (EQIX | Real Estate): beat EPS median estimate (1.68 act. vs. 1.55 est.) and missed revenue median estimate (1,675m act. vs. 1,681m est.), up 0.12% today, closed at 837.88 and at 836.91 (-0.12%) after hours
  • Emerson Electric Co (EMR | Industrials): beat EPS median estimate (1.21 act. vs. 1.18 est.) and missed revenue median estimate (4,947m act. vs. 5,096m est.), down -4.87% today, closed at 95.27 and at 101.00 (+6.01%) after hours
  • Exelon Corp (EXC | Utilities): beat EPS median estimate (1.09 act. vs. 1.08 est.) and beat revenue median estimate (8,910m act. vs. 8,157m est.), up 0.58% today, closed at 54.05 and at 53.79 (-0.48%) after hours
  • Roku Inc (ROKU | Consumer Cyclicals): beat EPS median estimate (0.48 act. vs. 0.05 est.) and missed revenue median estimate (680m act. vs. 683m est.), up 0.08% today, closed at 313.66 and at 313.35 (-0.10%) after hours
  • Electronic Arts Inc (EA | Technology): beat EPS median estimate (1.49 act. vs. 1.15 est.) and beat revenue median estimate (1,851m act. vs. 1,750m est.), down -0.48% today, closed at 139.50 and at 139.50 (unchanged) after hours
  • Allstate Corp (ALL | Financials): missed EPS median estimate (0.73 act. vs. 1.65 est.) and beat revenue median estimate (12,375m act. vs. 10,590m est.), up 0.75% today, closed at 126.12 and at 124.11 (-1.59%) after hours
  • HubSpot Inc (HUBS | Technology): beat EPS median estimate (0.50 act. vs. 0.44 est.) and beat revenue median estimate (339m act. vs. 327m est.), down -1.35% today, closed at 776.74 and at 789.00 (+1.58%) after hours
  • ANSYS Inc (ANSS | Technology): missed EPS median estimate (#N/A act. vs. 1.34 est.) and beat revenue median estimate (441m act. vs. 415m est.), up 0.18% today, closed at 384.86 and at 384.17 (-0.18%) after hours
  • Corteva Inc (CTVA | Consumer Non-Cyclicals): beat EPS median estimate (-0.14 act. vs. -0.31 est.) and beat revenue median estimate (2,371m act. vs. 2,027m est.), up 4.60% today, closed at 44.81 and at 42.84 (-4.40%) after hours
  • ETSY Inc (ETSY | Consumer Cyclicals): beat EPS median estimate (0.62 act. vs. 0.54 est.) and beat revenue median estimate (532m act. vs. 519m est.), down -0.42% today, closed at 239.62 and at 240.50 (+0.37%) after hours
  • Albemarle Corp (ALB | Basic Materials): beat EPS median estimate (1.05 act. vs. 0.76 est.) and beat revenue median estimate (831m act. vs. 773m est.), up 0.74% today, closed at 261.95 and at 260.64 (-0.50%) after hours
  • Energy Transfer LP (ET | Energy): missed EPS median estimate (0.20 act. vs. 0.29 est.) and beat revenue median estimate (16,664m act. vs. 15,282m est.), down -1.53% today, closed at 9.68 and at 9.80 (+1.24%) after hours
  • Horizon Therapeutics PLC (HZNP | Healthcare): beat EPS median estimate (1.75 act. vs. 1.55 est.) and beat revenue median estimate (1,037m act. vs. 975m est.), down -0.88% today, closed at 116.37 and at 117.70 (+1.14%) after hours
  • CDW Corp (CDW | Technology): beat EPS median estimate (2.13 act. vs. 2.05 est.) and missed revenue median estimate (5,300m act. vs. 5,336m est.), down -1.94% today, closed at 185.54 and at 190.00 (+2.40%) after hours
  • Brookfield Infrastructure Partners LP (BIP | Consumer Non-Cyclicals): beat EPS median estimate (0.72 act. vs. 0.11 est.) and beat revenue median estimate (2,939m act. vs. 1,116m est.), up 1.14% today, closed at 59.31 and at 58.06 (-2.11%) after hours
  • Ingersoll Rand Inc (IR | Industrials): beat EPS median estimate (0.57 act. vs. 0.47 est.) and beat revenue median estimate (1,325m act. vs. 1,271m est.), down -0.30% today, closed at 56.06 and at 56.22 (+0.29%) after hours
  • Fox Corp (FOXA | Consumer Cyclicals): beat EPS median estimate (0.65 act. vs. 0.54 est.) and beat revenue median estimate (2,890m act. vs. 2,747m est.), down -0.05% today, closed at 41.58 and at 41.59 (+0.02%) after hours
  • Charles River Laboratories International Inc (CRL | Healthcare): beat EPS median estimate (2.70 act. vs. 2.59 est.) and missed revenue median estimate (896m act. vs. 909m est.), down -10.22% today, closed at 387.81 and at 431.95 (+11.38%) after hours

TOP WINNERS

  • iRhythm Technologies Inc (IRTC), up 59.0% to $122.12 / YTD price return: -48.5% / 12-Month Price Range: $ 41.66-286.19
  • Veritiv Corp (VRTV), up 29.7% to $144.98 / YTD price return: +597.4% / 12-Month Price Range: $ 14.45-115.89
  • Criteo SA (CRTO), up 24.8% to $40.09 / YTD price return: +95.5% / 12-Month Price Range: $ 15.68-46.65
  • Figs Inc (FIGS), up 23.2% to $42.27 / 12-Month Price Range: $ 28.25-50.40
  • Owens & Minor Inc (OMI), up 22.3% to $45.25 / YTD price return: +67.3% / 12-Month Price Range: $ 21.76-49.16
  • Tyra Biosciences Inc (TYRA), up 19.9% to $28.96 / 12-Month Price Range: $ 12.70-29.90 / Short interest (% of float): 2.2%; days to cover: 1.7
  • Glaukos Corp (GKOS), up 18.6% to $53.46 / YTD price return: -29.0% / 12-Month Price Range: $ 42.69-99.00
  • Mawson Infrastructure Group Inc (MIGI), up 17.1% to $15.10 / YTD price return: +619.0% / 12-Month Price Range: $ 1.00-17.25 / Short interest (% of float): 0.1%; days to cover: 0.6
  • Surgery Partners Inc (SGRY), up 17.0% to $48.02 / YTD price return: +65.5% / 12-Month Price Range: $ 21.36-69.58
  • Cerus Corp (CERS), up 16.6% to $7.80 / YTD price return: +12.7% / 12-Month Price Range: $ 4.67-8.87

BIGGEST LOSERS

  • Zillow Group Inc (Z), down 24.9% to $65.47 / YTD price return: -49.6% / 12-Month Price Range: $ 83.93-208.11 / Short interest (% of float): 13.5%; days to cover: 6.6 (the stock is currently on the short sale restriction list)
  • Playtika Holding Corp (PLTK), down 23.0% to $22.72 / 12-Month Price Range: $ 20.88-36.06 (the stock is currently on the short sale restriction list)
  • Zillow Group Inc (ZG), down 23.0% to $65.86 / YTD price return: -51.6% / 12-Month Price Range: $ 83.54-212.40 / Short interest (% of float): 3.7%; days to cover: 4.8 (the stock is currently on the short sale restriction list)
  • Digital Turbine Inc (APPS), down 19.0% to $72.81 / YTD price return: +28.7% / 12-Month Price Range: $ 30.88-102.56 (the stock is currently on the short sale restriction list)
  • Turquoise Hill Resources Ltd (TRQ), down 19.0% to $10.21 / YTD price return: -17.8% / 12-Month Price Range: $ 7.73-21.89 / Short interest (% of float): 2.1%; days to cover: 3.9 (the stock is currently on the short sale restriction list)
  • Unisys Corp (UIS), down 18.8% to $21.48 / YTD price return: +9.1% / 12-Month Price Range: $ 13.02-28.60 (the stock is currently on the short sale restriction list)
  • Ocugen Inc (OCGN), down 18.8% to $12.73 / YTD price return: +595.6% / 12-Month Price Range: $ .27-18.77 (the stock is currently on the short sale restriction list)
  • BioCryst Pharmaceuticals Inc (BCRX), down 18.1% to $12.40 / YTD price return: +66.4% / 12-Month Price Range: $ 3.74-18.48 (the stock is currently on the short sale restriction list)
  • Avis Budget Group Inc (CAR), down 16.5% to $298.09 / YTD price return: +699.2% / 12-Month Price Range: $ 28.20-545.11 / Short interest (% of float): 20.5%; days to cover: 6.2 (the stock is currently on the short sale restriction list)
  • Ternium SA (TX), down 14.4% to $39.67 / YTD price return: +36.4% / 12-Month Price Range: $ 19.56-56.86 / Short interest (% of float): 0.9%; days to cover: 2.6 (the stock is currently on the short sale restriction list)

VALUATION MULTIPLES BY SECTORS

S&P 1500 PEG Ratios By Sector | Sources: ϕpost, FactSet dataS&P 1500 EV/Sales Multiples By Sector | Sources: ϕpost, FactSet data

NEW IPOs ANNOUNCED OR PRICED

  • Digital Realty Trust Inc / United States of America - Real Estate / Listing Exchange: Singapore / Ticker: DLR / Gross proceeds (including overallotment): US$ 600.00m (offering in U.S. Dollar) / Bookrunners: Not Applicable
  • Nanjing Vazyme Biotech Co Ltd (Healthcare Equipment & Supplies | Nanjing, China (Mainland)), raised US$ 344 M, placing 40 M class a ordinary shares. Financial advisors on the transaction: Huatai United Securities Co Ltd
  • SiteMinder Ltd (IT Consulting & Services | Sydney, Australia), raised US$ 931 M, placing 124 M ordinary or common shares. Financial advisors on the transaction: UBS Australia Ltd, Goldman Sachs Australia Pty Ltd, Barrenjoey Advisory Pty Ltd, Ord Minnett Limited
  • Shanghai Anlogic Infotech Co Ltd (Semiconductors | Shanghai, China (Mainland)), raised US$ 204 M, placing 50 M class a ordinary shares. Financial advisors on the transaction: China International Capital Corp
  • Onyx Acquisition Co I (Alternative Financial Investments | New York City, New York), raised US$ 230 M, placing 23 M units. Financial advisors on the transaction: I-Bankers Securities Inc, BTIG LLC

EQUITY FOLLOW-ONS / SECONDARY OFFERINGS

  • Qualtrics International Inc / United States of America - High Technology / Listing Exchange: Nasdaq / Ticker: XM / Gross proceeds (including overallotment): US$ 1,000.00m (offering in U.S. Dollar) / Bookrunners: Goldman Sachs & Co, HSBC Securities (USA) Inc
  • Asbury Automotive Group Inc / United States of America - Retail / Listing Exchange: New York / Ticker: ABG / Gross proceeds (including overallotment): US$ 690.69m (offering in U.S. Dollar) / Bookrunners: Wells Fargo Securities LLC, JP Morgan Securities LLC, Bofa Securities Inc
  • Itau Corpbanca SA / Chile - Financials / Listing Exchange: Santiago / Ticker: CORPBA / Gross proceeds (including overallotment): US$ 853.00m (offering in Chilean Peso) / Bookrunners: LarrainVial SA Corredora de Bolsa, Itau BBA USA Securities Inc, JP Morgan Securities LLC, BTG Pactual Us Capital LLC